Mitsubishi UFJ Trust & Banking Corp Trims Position in ResMed Inc. (NYSE:RMD)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of ResMed Inc. (NYSE:RMDFree Report) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,101 shares of the medical equipment provider’s stock after selling 2,110 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of ResMed worth $17,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its holdings in shares of ResMed by 28.5% during the third quarter. Canada Pension Plan Investment Board now owns 215,697 shares of the medical equipment provider’s stock valued at $31,895,000 after acquiring an additional 47,900 shares in the last quarter. Huntington National Bank raised its holdings in shares of ResMed by 10.0% during the third quarter. Huntington National Bank now owns 1,676 shares of the medical equipment provider’s stock valued at $248,000 after acquiring an additional 152 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of ResMed by 11.3% during the third quarter. HighTower Advisors LLC now owns 48,922 shares of the medical equipment provider’s stock valued at $7,213,000 after acquiring an additional 4,959 shares in the last quarter. Pathstone Family Office LLC raised its holdings in shares of ResMed by 48.6% during the third quarter. Pathstone Family Office LLC now owns 6,686 shares of the medical equipment provider’s stock valued at $988,000 after acquiring an additional 2,186 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of ResMed by 3.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,624 shares of the medical equipment provider’s stock valued at $1,127,000 after acquiring an additional 252 shares in the last quarter. Institutional investors own 63.79% of the company’s stock.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 5,678 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $152.04, for a total transaction of $863,283.12. Following the sale, the chief executive officer now directly owns 440,986 shares of the company’s stock, valued at $67,047,511.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brett Sandercock sold 3,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $152.62, for a total transaction of $457,860.00. Following the sale, the chief financial officer now directly owns 92,962 shares of the company’s stock, valued at $14,187,860.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 5,678 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $152.04, for a total value of $863,283.12. Following the completion of the transaction, the chief executive officer now directly owns 440,986 shares in the company, valued at approximately $67,047,511.44. The disclosure for this sale can be found here. 1.21% of the stock is currently owned by insiders.

ResMed Trading Down 1.2 %

NYSE RMD opened at $182.46 on Tuesday. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $243.52. The stock has a market cap of $26.84 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.31 and a beta of 0.69. The stock’s fifty day moving average price is $175.67 and its 200-day moving average price is $163.25. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMDGet Free Report) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm posted $1.66 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities analysts forecast that ResMed Inc. will post 7.39 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 8th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.05%. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. KeyCorp assumed coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target on the stock. JPMorgan Chase & Co. upped their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Morgan Stanley raised ResMed from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $180.00 to $169.00 in a research note on Friday, October 27th. Finally, Needham & Company LLC upped their price target on ResMed from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $196.30.

View Our Latest Stock Report on RMD

About ResMed

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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